Long Trade Setup โ BTSG!๐
๐น Asset: BrightSpring Health Services, Inc. (NASDAQ: BTSG)
๐น Timeframe: 30-Minute Chart
๐น Setup Type: Bullish Wedge Breakout
๐ Trade Plan (Long Position)
โ
Entry Zone: Above $23.05 (Breakout Confirmation)
โ
Stop-Loss (SL): Below $21.66 (Wedge Invalidation Level)
๐ฏ Take Profit Targets
๐ TP1: $25.04 โ First Resistance
๐ TP2: $27.45 โ Measured Move Target
๐ Risk-Reward Calculation
๐ Risk: $23.05 - $21.66 = $1.39
๐ Reward to TP1: $25.04 - $23.05 = $1.99 โ 1:1.43 R/R
๐ Reward to TP2: $27.45 - $23.05 = $4.40 โ 1:3.16 R/R โ
๐ Technical Highlights
๐ Clean rising wedge breakout
๐ Strong bullish momentum following prior trend
๐ Volume build-up around breakout zone
๐ Higher highs and higher lows suggest strength continuation
๐ Execution Strategy
๐ Enter after confirmed breakout above $23.05
๐ Use SL below recent swing low ($21.66)
๐ฐ Book partial profits at TP1, let winners ride to TP2
๐จ Invalidation Risk
โ Exit if price falls below $21.66 with volume
โ Avoid chasing if breakout lacks momentum
๐ Final Take
โ Bullish wedge breakout with momentum
โ Excellent R:R profile for long setup
โ Ride the breakout โ stay disciplined and manage risk smartly